Reliance Life Money Multiplier Plan

Reliance Life Money Multiplier Plan:-

Reliance Life Insurance Money Multiplier Plan Review

Reliance Life Insurance Money Multiplier is traditional endowment plan. Death benefit is double the Sum Assured and there are guaranteed loyalty additions which increase with every policy year. As a result the overall life cover too increases every year.

Our Take – The features of this endowment plan are good but premium rate for the amount of cover that is being provided is on the higher side.

Key Features of Reliance Life Insurance Money Multiplier Plan

Benefits you get from Money Multiplier Plan

Death Benefit – The nominee would be paid twice the Sum Assured.

Maturity Benefit – The policy holder is paid the sum of the following: Sum Assured + Guaranteed Loyalty Additions + Guaranteed Maturity Additions

Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C. The maturity amount you receive from this plan are exempt from tax under section 10(10D)

Eligibility conditions and other restrictions in Money Multiplier Plan

	Minimum	Maximum
Sum Assured (in Rs.)	Rs.50,000	No Limit
Policy Term (in years)	10 / 15 / 20
Premium Payment Term (in years)	Same as policy term
Entry Age of Policyholder	18	65
Age at Maturity	28	75
Single premium	NA	NA
Payment modes	Yearly, Half-Yearly, Quarterly (ECS) & Monthly (ECS)

contact for insurance:- sanjay tomer
                                     09466423767

§         In case of death of the policy holder, the nominee is paid 2 times the Sum Assured

§         On maturity the policy holder gets Sum Assured + Guaranteed Loyalty Additions + Guaranteed Maturity Additions